Clothes
Multiply Today’s Effort (The Easy Way)
What if I gave you a lever arm to multiply your time by 10x, 20x, or more? You could work for just an hour, but get a full day’s free time? Would you be interested?
Time is money: How frugality buys freedom â tomorrow AND today
“Time is money,” my father used to tell me when I was a boy. He didn’t like how I dawdled with my chores. I didn’t understand what he meant back then. To me, time and money were two very different things. As a kid, I had lots of time but very little money.
Now, as a nearly fifty-year-old man who has written about personal finance for the past twelve years, I get it. Dad was right: Time is money â and money is time.
This notion is the central lesson of Your Money or Your Life, the personal-finance classic by Joe Dominguez and Vicki Robin. “Money is something we choose to trade our life energy for,” they write. “You are the one who determines what money is worth to you. It is your life energy. You ‘pay’ for money with your time. You choose how to spend it.”
The authors say that because you spend time in order to earn money, you’re also spending time whenever you make a purchase. This has some powerful implications.
- When you treat time as money (and money as time), you can better evaluate how to allocate your dollars and your hours.
- When you know how much your time is worth, you can decide when it makes sense to “outsource” specific jobs.
- When you spend less, you can work less. In a very real way, frugality buys time. But on a deeper level, frugality buys freedom â financial freedom, freedom from worry, freedom to spend your time however you choose.
Because of the time factor, Dominguez and Robin argue that you don’t earn as much as you think you do. You may be paid $33 an hour, but your real hourly wage is less than that. Possibly much less.
How to optimize your resume for employment gaps
Are you currently taking a hiatus from paid employment? Maybe you want to stay home with your kids until they’re in school. Maybe you haven’t been able to find another job after a layoff. Maybe you had some savings and took a mini-retirement. Or maybe you just wanted a break.
Self-imposed or not, taking a break from the paycheck can be scary.
You know what I find even scarier? Trying to re-enter the job market after a long hiatus.
Should You Learn The DIY Skills Previous Generations Learned?
In our dual income society, many of the DIY skills older generations learned have disappeared. Weâre used to outsourcing everything. But should we?
The post Should You Learn The DIY Skills Previous Generations Learned? appeared first on Bible Money Matters and was written by Melissa. Copyright © Bible Money Matters – please visit biblemoneymatters.com for more great content.
Credit Card Reviews: Best Credit Cards for Families
From the Mint team: Mint may be compensated if you click on the links to our issuer partnersâ offers that appear in this article, including Chase. Our partners do not endorse, review or approve the content. Any links to Mint Partners were added after the creation of the posting. Mint Partners had no influence on
The post Credit Card Reviews: Best Credit Cards for Families appeared first on MintLife Blog.
How to Make Money in College
As a follow up to my post recently titled: Reader Question: College Budget, I’m going to talk today about making money while in college. Money in college can of course pay for a lot of things. Your tuition, commute (cars, gas, maintenance, etc.), food, drinks, clothes and everything else. Maybe you also want to go […]
The post How to Make Money in College appeared first on Making Sense Of Cents.
Guide to Reselling
Resellers are a critical link in the commerce chain, connecting consumers and manufacturers. The ecommerce landscape is attracting a steady stream of resellers as consumers are showing a growing interest in quality used goods. Stalwarts like Amazon and eBay have been joined by smaller players, such as RealReal, ThredUP, and Carvana. The list seems endless, […]
The post Guide to Reselling appeared first on SoFi.
The On-Demand Services Spending Trap
On-demand services are a modern convenience that are hard to avoid. If you find yourself in a service spending trap, hereâs what you can do to scale back.
The post The On-Demand Services Spending Trap appeared first on MintLife Blog.
Advice for a young adult learning to manage money
Note: Today’s post is a little different. It’s a letter to a young friend, who asked to remain anonymous. She’s 21 and just landed her first job. Now that she’s bringing home a regular income, she wanted advice on what to do with her money. Here’s my response.
First up, I think it’s awesome that you asked me for advice. That took guts! Plus, it’s a sign that you’re already making good decisions. You’re being proactive, taking charge of your own life. I like that.
Like you, my parents didn’t teach me how to handle money very well. They did their best, but it’s tough to teach what you don’t know. I’ve had to figure a lot of this stuff out on my own, and I’ve made a lot of mistakes along the way.
You’ll make mistakes with money too, I’m sure. They key is to not let these mistakes compound. Don’t let one mistake lead to another mistake. When something goes wrong, pause. Take a deep breath. Don’t panic. Call me for advice, or ask somebody else who seems to have things figured out. Okay?
I have so much I want to share with you, but I’m going to hold back. I don’t want to overwhelm you with stuff that you don’t need to know right now. Do me a favor, though, and read that book I mailed you: I Will Teach You to Be Rich. There’s a lot of good info in there. Some of it won’t apply to you yet, but it doesn’t hurt to read the whole thing so that you can know what’s coming in the future.
For now, let’s focus on the fundamentals.
First Things First
After thinking about this for nearly a week, I think that your focus should be setting up what I call your basic “financial infrastructure”, then creating three buckets for your money.
To start, you need two bank accounts: a checking account and a savings account.
You told me that you already have a Capital One 360 checking account, which is awesome. That account has no fees. (Some banks, like Wells Fargo, charge an outrageous $10/month fee for checking. This is insane. There’s never a good reason to pay a bank for the privilege of having an account with them.)